General Motors v. Audi AG

Paper Summary:

The paper provides an overview of the Audi AG and General Motors companies and compares their financial statements. The paper examines both companies' accounting methods and policies, foreign currency transactions, the exchange rates they use and their transaction methods.

Outline:
Company Description
Accounting Methods, Techniques and Principles
Foreign Currency Transactions
Exchange Rates
Transaction Methods

From the Paper:

"Audi AG is one of the most renowned automobile manufacturers of the globe. Founded in 1910 by August Horch, the company is based in Ingolstadt, Germany and it is currently a subsidy of the Volkswagen Group. The company has opened operation centers in six countries, including Russia, Hungary and South Korea and it operates with a total of 52,297 employees. The manufacturer is committed to personal growth through the complete satisfaction of all stakeholders. Audi produces luxury automobiles and a series of custom-made products, including cars, and other components, such as engines. The company is currently committed to limiting the negative impact held by automobiles and combustibles upon the surrounding environment. The company's mark of four joint rings symbolizes the union of four major car producers (Audi, DKW, Horch and Wanderer) into what is today known as Audi AG."

Sample of Sources Used:

• Audi AG Official Webpage, http://www.audi.com, last accessed on December 11, 2007
• General Motors Official Webpage, http://www.gm.com/, last accessed on December 11, 2007
• Audi AG 2006 Annual Report, Retrieved on December 11, 2007 from http://www.audi.com/audi/com/en2/about_audi_ag/investor_relations/financial_reports/annual_reports.html
• General Motors 2006 Annual Report, Retrieved on December 11, 2007 from http://www.gm.com/corporate/investor_information/docs/fin_data/gm06ar/
• Audi AG NSUG.F - Annual Income Statement, Reuters Stocks, 2007, http://stocks.us.reuters.com/stocks/incomeStatement.asp?period=A, last accessed on December 11, 2007

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